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steve? >> i would think for republicans, the resolution should be to discipline themselves to see evening through the prism of 2014. and 2016. and in the context of the current discussions and congressional republicans that would mean don't go for the short-term hit or what feels good. look at the longer term hit. serious consequences and problems implementing obamacare. there are longer terrell thing that add up to benefit of republicans if they don't shoot themselveses in the foot for the short-term. try not to demagogue opponents at every step on every issue. >> bret: a.b.? >> i think that the republicans, think about the next two elections and the coition will to put together to be majority g.o.p.ing party a win back the white house. to that end they need to get out in front of the immigration and the gun control debate. we might stay on the cliff all year and never get to the two debates. the point if they want to win over more voters in the groups, the democrats won so well in november
steve? >> i would think for republicans, the resolution should be to discipline themselves to see evening through the prism of 2014. and 2016. and in the context of the current discussions and congressional republicans that would mean don't go for the short-term hit or what feels good. look at the longer term hit. serious consequences and problems implementing obamacare. there are longer terrell thing that add up to benefit of republicans if they don't shoot themselveses in the foot for...
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we are back with dan and mary and steve moore. mary, explain this seeming contridiction between slow growth and buoyant markets. >> first of all with respect to the markets, i would say that if you look at a chart of for example, if you go back to say april of 2011 until october of 2012, you arke basically flat. there has been a lot of churning up and down. the s&p 500 index was a lot higher. in the last few months we have seen a little pick up there. certainly from the end of -- from the beginning of this year you saw a run in the market. you don't have a great return if you are a long-term investor. >> okay. but if growth is still slow, and some people are still investing in p cs. the corporate balance sheet earnings have been pretty good. they have cleaned out a lot of the debt from the crisis. could we be poised here for faster growth going forward? >> i think one of the things that explains why the corporate sector is doing well is they have access to money at 0 interest rates. that's not true for the broader population and n
we are back with dan and mary and steve moore. mary, explain this seeming contridiction between slow growth and buoyant markets. >> first of all with respect to the markets, i would say that if you look at a chart of for example, if you go back to say april of 2011 until october of 2012, you arke basically flat. there has been a lot of churning up and down. the s&p 500 index was a lot higher. in the last few months we have seen a little pick up there. certainly from the end of -- from...
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steve, you wanted to get in there? >> yeah, let me be the bull here for a minute. we talk auld time about the energy sector and it's not just the energy sector, we've had a mini renaissance in manufacturing in this country, in transportation because of the fact the energy prices are falling and makes the american much more competitive at the margin. i think 2013 is going to see continued declines in energy prices. that's like a tax cut for the american consumer, paul. >> but, paul, the thing we haven't mentioned here is unemployment. we've had high unemployment for four years which means a lot of people out of jobs. we would need a tremendously bullish economy and i'm saying like 4%, to produce enough jobs, it would take a decade to get back to where we were before this recession. >> paul: right, sure, no question about it. >> we just need to do whatever we can to allow economic growth in this country. but declining energy prices are not necessarily good for energy production. because at some point, energy producers are going to say the price is too low and to miti
steve, you wanted to get in there? >> yeah, let me be the bull here for a minute. we talk auld time about the energy sector and it's not just the energy sector, we've had a mini renaissance in manufacturing in this country, in transportation because of the fact the energy prices are falling and makes the american much more competitive at the margin. i think 2013 is going to see continued declines in energy prices. that's like a tax cut for the american consumer, paul. >> but, paul,...
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steve? >> steve: let's switch gears. the new year is bringing if a new job for our next guest and an impresssive one to say the least. after nearly 25 years, of military service, he's about to receive the highest enlisted rank in the united states air force. senior master sergeant scott stoy joins us live. good morning to you. >> good morning. >> steve: what have you been doing in the air force all these years? >> for the first 12 years i worked as a aero ground space and then recruiting. i've gone through the gauntlet of being a recruiter and a flight chief and moved up to squadron level and now the superintendent of active duty recruiting for the state of new york. >> steve: that's awesome. it's good because when you go into the recruiting office and you want to talk to somebody who has been there and doesn't -- it's good to have a guy like you right there behind the desk. >> yes. all of our recruiters have experience. we don't allow recruiters to come right in as a recruit. they have have experience in the air force t
steve? >> steve: let's switch gears. the new year is bringing if a new job for our next guest and an impresssive one to say the least. after nearly 25 years, of military service, he's about to receive the highest enlisted rank in the united states air force. senior master sergeant scott stoy joins us live. good morning to you. >> good morning. >> steve: what have you been doing in the air force all these years? >> for the first 12 years i worked as a aero ground space...
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steve harrigan live from miami with details. steve? >> reporter: jon, three weeks ago hugo chavez underwent his fourth operation in cuba for undisclosed form of cancer. according to venezuela ann officials he has respiratory infection. it is not clear how rapid his recovery will be. what is clear he made no public states or appearances in the past three weeks and things are serious enough where his own vice president had to travel from venezuela to cuba after meeting with chavez. after meeting with chavez the leader's health, was quote, a in a delicate situation. madero is hand-picked successor to chavez. interesting things could happen if chavez is not well enough to attend his own inauguration on january 10th. if he dies before the inauguration, venezuela will have to call all new presidential elections within three months. keep in mind it was back in october when chavez was reelected for another term. he told senz senz ann voters he was in fact cancer-free. jon? jon: hmmm. so interesting development there i wonder if he knew somethi
steve harrigan live from miami with details. steve? >> reporter: jon, three weeks ago hugo chavez underwent his fourth operation in cuba for undisclosed form of cancer. according to venezuela ann officials he has respiratory infection. it is not clear how rapid his recovery will be. what is clear he made no public states or appearances in the past three weeks and things are serious enough where his own vice president had to travel from venezuela to cuba after meeting with chavez. after...
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joining me now, senior economics writer or for "the wall street journal" steve moore. steve, thanks for making it in today. >> hi, jamie. we're having a white christmas in chicago. so it is a lot of fun. jamie: i know chicago, burr. the numbers are also pretty chilling for retailers who do what percentage of their business during the holiday season? >> you know, those months of november and december are absolutely crucial, jamie, for the retailers. about 40 to all their business all year is done in those two holiday months. so it's, not very good news that the retail numbers came in, you called them lackluster. and that's probably putting it charitiably. this was the worst year since 2008. it is actually, surprising, jamie, because if you look at some other indicators, consumer confidence had actually bumped up a little bit in the last couple months. we have, i wouldn't read too much into this because other indicators of the economy are looking up right now. jamie: so do you think it's an anomaly that it isn't going up? is it an indication if we go over the fiscal clif
joining me now, senior economics writer or for "the wall street journal" steve moore. steve, thanks for making it in today. >> hi, jamie. we're having a white christmas in chicago. so it is a lot of fun. jamie: i know chicago, burr. the numbers are also pretty chilling for retailers who do what percentage of their business during the holiday season? >> you know, those months of november and december are absolutely crucial, jamie, for the retailers. about 40 to all their...
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, steve, no doubt a big celebration. >> reporter: heather, a real subdued atmosphere here right now. that four-month ordeal just ended 90 minutes ago. that's when the father, with john hammer, just raced up this driveway. there are some concerns about john hammer's physical condition. they did stop off at an emergency room enroute home from that mexico/texas border. he's suffering from dehydration, his father says he's having trouble standing up, but this will be the greatest christmas the family's ever had. >> reporter: must be a really tough time for you right now. tell us what you're feeling. >> no, this is great right now. i'm glad to be talking to you about that it's over with. because it's really over with. >> reporter: it's still really sinking in to the family this is finally over with. initially, they had a low-key approach to try and win his release. after that failed, though, they went more and more public, appearing on television and also pressing their own elected representative, especially their congresswoman to really push hard against the mexican government for an ear
, steve, no doubt a big celebration. >> reporter: heather, a real subdued atmosphere here right now. that four-month ordeal just ended 90 minutes ago. that's when the father, with john hammer, just raced up this driveway. there are some concerns about john hammer's physical condition. they did stop off at an emergency room enroute home from that mexico/texas border. he's suffering from dehydration, his father says he's having trouble standing up, but this will be the greatest christmas...
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he changed in terms of bringing on new talent, which is that spot which is johnny carson, jack parr, steve allen. he has not broken in his 20 something years on the air, he has not broken one major act. >> bill: you know, it's a different time now andaj the ratings pressure i bs so intense. >> jay is numberre one. do whatever he wants. >> bon jovi ride in air force one with the president. that's pretty cool. joe biden, he had to drive up in a van with the guys who sang "who let the dogs out." >> you can tell me 10 minutes a weekho going to destroy your whole career, i'm not buying that all i say to jay leno is do whatin was done for you. that's all. and now jay used to come on every five to six weeks on the letterman show. i got him on the merv griffin show a billion times. that's what happened. it doesn't hurt you if you bring on the new guy because you want to see somebody knew. when johnny carson was the host. we didn't know johnny carson. high exsoughted vatican leader. when jay leno took over, it was one of us. and wen said okay, our guy is is in. yea! and it would be like bill closin
he changed in terms of bringing on new talent, which is that spot which is johnny carson, jack parr, steve allen. he has not broken in his 20 something years on the air, he has not broken one major act. >> bill: you know, it's a different time now andaj the ratings pressure i bs so intense. >> jay is numberre one. do whatever he wants. >> bon jovi ride in air force one with the president. that's pretty cool. joe biden, he had to drive up in a van with the guys who sang...
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gregg: but, steve, bill kristol, conservative, you know what, time to throw in the towel. you do not want to get blamed for raising taxes on 98% of americans. >> right. gregg: right? >> look, bill kristol is my boss and editor at "the weekly standard" and one of most handsome and well-regarded editors in the country as everybody knows. look, i think he was making what was, in effect a practical case. there are people who are making this case behind the scenes. you have seen, he said, get it over with. move beyond this. there are others saying absolutely not. republicans can't cave on the principle of raising tacks. i think interesting thing in what happened last week that you have seen a turn, and it is first time i've seen a sliver of potential good news for the republicans and that is this. the president is now going to have to work with senate democrats and craft a proposal, some kind of short-term deal that deals mostly with the tax side of things that won't require too much republican buy-in. so if republicans want contrast, i think is a good thing for republicans to
gregg: but, steve, bill kristol, conservative, you know what, time to throw in the towel. you do not want to get blamed for raising taxes on 98% of americans. >> right. gregg: right? >> look, bill kristol is my boss and editor at "the weekly standard" and one of most handsome and well-regarded editors in the country as everybody knows. look, i think he was making what was, in effect a practical case. there are people who are making this case behind the scenes. you have...
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patti ann: steve moore, "wall street journal." thank you. gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller c
patti ann: steve moore, "wall street journal." thank you. gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in...
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rick: you and i talk for years, steve about small businesses and the impact these bills have on folks who employ, the most americans in this country, small business owners. based on your reading of this bill, what's the impact on them? >> it is lousy. i'm glad you brought this point up. we've been having the debate whose taxes should be going up and so on. let's not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend taxes. higher taxes on small businesses the some of my liberal friends would say, that is only people that make over $450,000. rick, as you know, two out of three of those people in the high income category are small business owners. the overall impact is anti-business and anti-growth. the by the way only way we get the deficit down is get the economy growing again. i think congress and the white house lost sight of that. rick: for conservatives in the house of representatives sitting reading this bill right now and trying to figure out what they're going to do, as a conservative economist what would yo
rick: you and i talk for years, steve about small businesses and the impact these bills have on folks who employ, the most americans in this country, small business owners. based on your reading of this bill, what's the impact on them? >> it is lousy. i'm glad you brought this point up. we've been having the debate whose taxes should be going up and so on. let's not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend...
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. >> kelly: we hope steve, brian and gretchen are enjoying time off. >> clayton: and kelly wright, juliet and clayton in this morning. noise holiday and i'm looking forward to split up 'cause i get the birthday. subtle way to drop a hint. >> juliet: you're working new year's day? >> clayton: yeah, i'll be here. happy new year. >> kelly: and merry christmas if we got to you too late. we're getting a look at president obama who did enjoy a good christmas with his family in hawaii. he's boarding air force one and leaving hawaii. the president is in the air right now. he's heading back to washington and hopes to reach a deal on the so-called fiscal cliff. we've all been talking about it. but with just a few days to go, what happens if we do fall off that cliff? doug stand big in washington right now with what could happen if a deal isn't reached. doug? >> good morning. you're right, we're going to have some of the big players back here in washington today. a message for any of them, it may be coming from starbucks. if you order a coffee anywhere in the dc area right now, they're going to writ
. >> kelly: we hope steve, brian and gretchen are enjoying time off. >> clayton: and kelly wright, juliet and clayton in this morning. noise holiday and i'm looking forward to split up 'cause i get the birthday. subtle way to drop a hint. >> juliet: you're working new year's day? >> clayton: yeah, i'll be here. happy new year. >> kelly: and merry christmas if we got to you too late. we're getting a look at president obama who did enjoy a good christmas with his...
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emmy, however, he was inducted into the academy of television arts hall of fame in 1992 and in 2005 he steve the presidential medal of freedom and won a grammy in 1997 for his album of gospel music but his legacy for many will be the andy griffith theme song. >> of course. >> i didn't realize it went out at the top of the ratings like i love lucy and seinfedl. >> and henry hill. >> a a know torous new york city mob teresa payton and fbi informant jess died from heart failure and lived a complicated life from drug cartels to the air france robbery which then formed the base for the martin score saycy film. popular characteristic. >>> and robin giv gibb of the bee gees. stayin' alive and how deep it your love. >> best known for being one of the members of the bee gees with a career spanning six decades. they he sold more than 220 million records worldwide. divide as one of the major figures in the history of british music. he will be remembered for putting the disco on the map in the late '70s and creating the saturday night fever soundtrack starring john travolta can. and he received multiple
emmy, however, he was inducted into the academy of television arts hall of fame in 1992 and in 2005 he steve the presidential medal of freedom and won a grammy in 1997 for his album of gospel music but his legacy for many will be the andy griffith theme song. >> of course. >> i didn't realize it went out at the top of the ratings like i love lucy and seinfedl. >> and henry hill. >> a a know torous new york city mob teresa payton and fbi informant jess died from heart...